Professor Zhou graduated from Dept. of Economics of Renmin University of China. During 1980s, he worked at the Chinese Academy of Social Sciences and afterwards at the Research Centre of Rural Development of the State Council. Under the direct supervision of Mr. Du Runsheng, he conducted economic research related to China's reform and development. During 1990s, he served as a visiting professor respectively at University of Oxford in U.K., University of Colorado and University of Chicago in U.S.A. Since early 1996, he has been a professor in China Centre for Economic Research at Peking University, and was elected as "the most popular teacher in Peking University". From 2001, he has been teaching at College of Economics at Zhejiang University for one term every year. His teaching and research interests include property right and agreement, history of economy, changes of economic system, human capital and theory of the firm, competition, monopolisation, regulation and regulatory reform.

Professor Zhou's major publications include Reform under the System Innovation, Reformation of Rural Area and National Economic Development (volume I & II), Competition among .coms, Economics in Real World, Property Right and Changes of Economic System, and Income is a Series of Events.